SegWit2x, Segregated Witness phase 2, has failed to reach consensus and as a result, has been cancelled. This means, no new hard fork. No new free money. No big surprise.

It's been apparent for some time that this wasn't going to fly. Which makes you wonder why on earth some folks did things like this.

A gentlemen by the name of Bart Jellema spent nearly $80,000 buying B2X (futures) with the hopes that the fork would happen and he'd get rich quick. If anyone sees this man in the office tomorrow, check the forward for bruises, he's likely to be up all night banging his head against the wall.

Given the success of Bitcoin Cash (BCH) not to long ago this may have seemed to be a fairly good gamble. However there's just one problem, this involved two painful things. SegWit and availability.

Fork for Bigger Blocks

Had the fork occurred, there would have been 2 new distinct chains, one with supporting 2MB blocks. However, it didn't, and isn't going to. Yet.

One thing is certain. Blocks are slow and mining fees are ridiculous.

Something needs to change.

Article by dinbits
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